Bank of America Corporation (NYSE: BAC) reported first quarter 2023 earnings results today.
Revenue, net of interest expense, increased 13% year-over-year to $26.3 billion.
Net income rose 15% to $8.2 billion, or $0.94 per share, compared to last year.
Revenue and earnings both surpassed projections.
Average loan and lease balances were up 7% to $1 trillion, led by commercial loan growth and higher credit card balances.